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NCB Financial Group to make another offer to shareholders

It's being reported that in two weeks, NCB Financial Group is expected to make another offer to the shareholders of  Trinidad-based Guardian Holdings as it seeks, once again, to gain an additional 32.01 per cent shareholding to take its ownership of  the insurance company to 62 per cent.
 
This was revealed by Trinidad's Express newspaper.
 
It says this time Guardian Holdings shareholders can expect NCB to offer up to 40 US cents more per share.
 
That would take the proposed offer price to US$2.75 cents.
 
It's reported that this is part of  the process to a proposed settlement agreement initiated by NCB Financial Group with the Trinidad and Tobago Securities and Exchange Commission (TTSEC) and minority shareholder activist Peter Permell.
 
It was arrived at last Tuesday.
 
NCB's offer for a controlling stake in Guardian was allowed to lapse earlier this year, despite hitting the targeted subscriptions, due to complaints from some minority owners that resulted in the TTSEC convening a hearing into the takeover bid.
 
The minority owners of  Guardian want  NCB to adjust the offer price more in line with what it initially paid large shareholders for a stake in Guardian in 2016.


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